Innoviva Q1 royalties up 5% to $93.5M; invested $45M in Armata, $15M in Entasis

Innoviva, Inc.

2022-Q1 EPS reported $0.20 revenue$90,059,000

Gross royalty revenues of $93.5M (+5% YoY); TRELEGY sales up 33% to $450.9M.
Issued $261M 2.125% convertible notes due 2028; repurchased $144.8M of 2023 notes.
Invested $45M in Armata for ~69% ownership; $15M convertible debt financing to Entasis.
Non-binding offer to acquire Entasis at $2.00/share; consolidated Entasis financials.
Net cash $183.3M (excl. $33.5M Entasis cash); receivables $93.5M from GSK.

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